Coinbase CEO Defend Staking Services and Working with CFTC for Derivatives Platforms

Coinbase CEO Defend Staking Services and Working with CFTC for Derivatives Platforms

In a recent podcast with Bankless, Coinbase CEO Brian Armstrong has stated that the company's staking program is not a security and is prepared to defend this position in court. Armstrong's comments come as U.S. regulators target similar products offered by other firms. 

The clarification follows recent updates to Coinbase's staking service, which emphasized that rewards are earned through protocols and not directly from Coinbase.

Armstrong added that Coinbase was also working with the CFTC to launch its derivatives platform. Coinbase does not offer any crypto derivative trading to its users in the U.S..

Coinbase's defense of its staking program comes amid increased scrutiny of the cryptocurrency industry by regulators. The SEC has recently issued warnings to several firms offering staking products, stating that they may be considered securities and thus subject to regulation. Coinbase's response underscores the company's commitment to regulatory compliance and its confidence in the legality of its staking program.

 

TokenInsight is dedicated to covering the most important and cutting-edge trends in the world of crypto. If you have information to share with us, please feel free to contact our email news@tokeninsight.com. Your trust will be well respected.

Source

Coinbase

Exchanges

Related News
Non-KYC exchange eXch to close down under money laundering scrutiny tied to Lazarus Group Non-KYC exchange eXch to close down under money laundering scrutiny tied to Lazarus Group
MEXC Extends DEX+ Platform to Binance Smart Chain Users MEXC Extends DEX+ Platform to Binance Smart Chain Users
MEXC Partners With Hacken to Increase Security Standards MEXC Partners With Hacken to Increase Security Standards
BitMEX hit with additional $100 million fine over Bank Secrecy Act violations: report BitMEX hit with additional $100 million fine over Bank Secrecy Act violations: report
Coinbase premium flips positive for first time in weeks, indicating rising bitcoin demand from US investors Coinbase premium flips positive for first time in weeks, indicating rising bitcoin demand from US investors
Latest News More More
1 Day Ago Citigroup predicts stablecoin supply could hit $3.7 trillion by 2030
1 Day Ago Ark Invest raises 2030 bull-case bitcoin price projection to $2.4 million on 'aggressive' modeling
2 Days Ago Zora airdrop triggers confusion as token launches without announcement, requires users claim manually
3 Days Ago pot bitcoin ETFs see $936 million inflows as 'safe haven' narrative strengthens
3 Days Ago Binance South Africa to require information on senders and recipients for local compliance
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open